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DUCATIBOY848

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21 OPEN CREDIT CARDS - WHAT TO CLOSE TO BETTER SCORE & HIGHER LIMITS?

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Start reading the articles here to educate yourself and also read the oft questions and answered in this community forum.

You should preferably use no more than 10% of your available credit. You're wasting money by paying high interest. You should pay your cards in full every month, and only charge what you can comfortably pay off every month. 

Stop using the cards, or use them minimally. Start throwing all extra money on your highest interest card to get it paid off, while making at least minimum payments on the others.  Once that card is paid off, move on to the next highest interest card. 

Once your cards are paid, then ask for a credit limit increases on  cards you want to keep, making sure the increased credit limit is close or greater to a credit card you want to close.  This will maintain your overall credit availability.

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My history is solid - I'm 51/0/0 with a total limit of $72k. I'm using 28% roughly. My highest limit is $7k on a couple cards. The rest are $2-5k. What would be the easiest way to close other $5k limit cards I don't use without hurting my score. My goal is to have higher scores and eventually only have a few high limit cards left....

I've never had a 30 day on my credit and my scores are only 633 eq & 677 TU on here with 5 inquires showing... Any suggestions appreciated.

Thanks,

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